Funding you earn now, next payment 03:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.038%
Price spread now: OKX against Deribit−0.103%7-day average −0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$480.482% of the position
Funding, last 7 days+0.201%+$20 on $10k
+Price spread, last 4 days (all we have)−0.186%−$19 · spread now −0.103%, 7d avg −0.043%
=Funding pays, the price is against you. OKX is 0.060% cheaper against Deribit than usual: you would sell low and buy high (spread −0.103% now, against its 7-day average of −0.043%). If the spread goes back, that is −$6 on $10k: about 6.1 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.201% in total) that is about 2.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit OP_USDC-PERPETUAL | 0.1266 | 0 | get 0.0000% / 1h | 7m 38s | $42K | $151K | 25x |
| Short | OKX OP-USDT-SWAP | 0.1265 | 0.0033 | get 0.0033% / 8h | 5h 07m | $6.2M | $28.9M | 50x |
Deribit OP_USDC-PERPETUAL
OKX OP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $6.84
- Price spread: −0.103% → −0.043%
- −$6
- Slippage, 4 orders
- −$31.18
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$47.34
- Costs to cover
- 0.482%
- Break-even
- 55.4 days
Slippage from Deribit: live order book, 56 min ago; OKX: live order book, 1 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Deribit live order book, 56 min ago | 7.91 bp | 11.4 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 1 min ago | 0.40 bp | 14.9 bp −$15 | 38.1 bp −$381 | doesn't fit | doesn't fit |
OP on 30 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1488% | 1h | 0.1262 | −0.316% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1266 | +0.028% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1266 | 0.000% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALlong | 0.0000% | 1h | 0.1266 | long leg | $42K | $151K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1267 | +0.053% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAPshort | +0.0033% | 8h | 0.1265 | −0.103% | $6.2M | $28.9M | 50x | |
| Variational Omni OP | +0.0051% | 8h | 0.1269 | +0.269% | $224K | $50K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0053% | 8h | 0.1266 | 0.000% | $6K | $44K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1266 | −0.008% | $280K | $936K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1267 | +0.055% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1266 | −0.017% | $211K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1265 | −0.086% | $20.4M | $60.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1264 | −0.126% | $18.5M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1266 | 0.000% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1266 | −0.008% | $20.9M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1264 | −0.158% | $2.9M | $6.7M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1265 | −0.079% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1265 | −0.079% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1266 | −0.032% | $121K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1270 | +0.315% | $4K | $389K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1271 | +0.384% | $313K | $4.8M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1273 | +0.553% | $44K | $707K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1266 | 0.000% | $186 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1267 | +0.087% | $175K | $216K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1264 | −0.128% | $106K | $389K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1266 | +0.032% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1278 | +0.948% | $25K | $71K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1266 | +0.008% | $1.0M | $278K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1266 | −0.001% | $704 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0490% | 1h | 0.1267 | +0.100% | $800K | $571K | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP
Kraken Futures PF_OPUSD